Major League Cricket raises $44M in funding round led by Microsoft's Nadella

By David Broughton

Major League Cricket has completed a $44M Series A and A1 fundraising round, with an additional commitment of $76M from investors over the next 12 months. Microsoft CEO Satya Nadella, a Sounders investor who also oversaw Microsoft’s $68.7B acquisition of Activision Blizzard earlier this year, is one of the lead investors in the fundraising. The $120M will primarily be earmarked to build cricket-specific stadiums and training centers in the U.S. Over the past three months, pro cricket projects have been unveiled in Grand Prairie, Texas; Redmond, Wash.; at the Santa Clara County Fairgrounds in San Jose, Calif.; in Morrisville, N.C.; and Irvine, Calif. MLC’s 27-team Toyota Minor League Cricket presented by Sunoco circuit launched last year as a ramp up to the expected 2023 debut of the country’s first-ever professional Twenty20 league, a fast-paced, 3-hour version of the sport. MLC was advised by Hogan Lovells, a law firm whose recent work includes representation of Oracle in its ballpark naming-rights deals with the MLB Giants, and the Spurs on their strategic investment from Sixth Street and Michael Dell. The firm’s Craig Umbaugh and Matthew Eisler were named SBJ Power Players last fall.

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